Re: Question about Debt XS

Posted by DONNIE (216.148.248.31) on January 09, 2004 at 14:06:42:

In Reply to: Re: Question about Debt XS posted by Keyser Soze on September 26, 2003 at 20:11:51:

I AM CURRENTLY GOING THROUGH THIS COMPANY NOW. THEY DO NOT SEND PAYMENTS TO CREDITORS. THIS IS YOUR RESPONSIBILITY. WHAT HAPPENS IS THEY GET YOUR DEBTS AS LOW AS .40 ON A DOLLAR. THE PLAN IS SET UP TO WHERE THE ONLY MONEY YOU SEND THEM IS THE MONEY YOU OWE THEM FOR THIS SERVICE. THE OTHER MONEY THAT THEY SET UP FOR YOU IS TO GO INTO A PERSONAL SAVINGS ACCOUNT THAT YOU HAVE TO SET UP AT YOUR LOCAL BANK. THE FIRST THREE MONTHS OF PAYMENTS GO STRAIGT TO THEM FOR THE SERVICE. THE NEXT 11 MONTHS, PART GOES TO THEM AND THE REMAINING OF THE PAYMENT YOU HAVE TO PUT INTO YOUR SAVINGS YOURSELF. THE LAST 11 MONTHS, THE FULL PAYMENT OF YOUR PLAN YOU HAVE TO PUT INTO YOUR SAVINGS. AS YOU ACCUMULATE MONEY IN YOUR SAVINGS (IF YOU ARE DILIGENT IN FOLLOWING THE PLAN OF SAVING THE MONIES YOU ARE SUPPOSED TO) THEY WILL SEND OUT A SETTLEMENT AMOUNT FOR ONE OF YOUR CREDITORS. YOU INTURN TAKE THAT MONIES OUT OF YOUR SAVINGS ACCOUNT AND PUT INTO YOUR CHECKING ACCOUNT AND SEND THE CREDITOR A CHECK FOR THE AMOUNT. THIS GOES ON UNTIL ALL OF YOUR CREDITORS ARE PAID OFF.

SO, WITH THIS IN MIND, DEBT XS DOES NOT SEND CREDITORS ANY PAYMENTS. THEY DISCLOSE THIS TO YOU IN THE BEGINNING.

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